Legislature(2023 - 2024)
2024-05-08 House Journal
Full Journal pdf2024-05-08 House Journal Page 2766 HB 122 The following was read the second time: 2024-05-08 House Journal Page 2767 HOUSE BILL NO. 122 "An Act authorizing the Alaska Railroad Corporation to issue revenue bonds to finance the replacement of the Alaska Railroad Corporation's passenger dock and related terminal facility in Seward, Alaska; and providing for an effective date." with the: Journal Page TRA RPT CS(TRA) NEW TITLE 5DP 1AM 1840 FN1: ZERO(CED) 1840 FIN RPT CS(FIN) 8DP 1AM 2679 FN1: ZERO(CED) 2679 FN2: ZERO(CED) 2679 Representative Saddler moved and asked unanimous consent that the following committee substitute be adopted in lieu of the original bill: CS FOR HOUSE BILL NO. 122(FIN) (same title) Representative Eastman objected and withdrew the objection. There was further objection. The question being: "Shall the House adopt CSHB 122(FIN)?" The roll was taken with the following result: HB 122 Second Reading Adopt Finance CS YEAS: 35 NAYS: 5 EXCUSED: 0 ABSENT: 0 Yeas: Allard, Armstrong, Baker, Carpenter, Carrick, Cronk, Dibert, Edgmon, Fields, Foster, Galvin, Gray, Groh, Hannan, Himschoot, C.Johnson, D.Johnson, Josephson, McCabe, McCormick, McKay, Mears, Mina, Ortiz, Prax, Rauscher, Saddler, Schrage, Shaw, Stapp, Story, Stutes, Tilton, Tomaszewski, Wright Nays: Coulombe, Eastman, Ruffridge, Sumner, Vance And so, CSHB 122(FIN) was adopted. 2024-05-08 House Journal Page 2768 Amendment No. 1 was offered by Representative McCabe: Page 1, line 3, following "Alaska;" (title amendment): Insert "authorizing the Alaska Railroad Corporation to issue revenue bonds to finance the completion of the Port MacKenzie Rail Extension in Point MacKenzie, Alaska;" Page 2, following line 7: Insert a new bill section to read: "* Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to read: LEGISLATIVE AUTHORIZATION AND APPROVAL. (a) The Alaska Railroad Corporation is authorized to issue revenue bonds under AS 42.40.250 to finance the completion of the Port MacKenzie Rail Extension in Point MacKenzie, Alaska, and associated costs, including, without limitation, reserves for debt service and capitalized interest, if necessary or appropriate, and costs of issuance. The maximum principal amount of bonds that the Alaska Railroad Corporation may issue under this section is $58,000,000. The Alaska Railroad Corporation may issue the bonds in a single issuance or in several issuances, without limitation as to number of issuances or timing, and as the Alaska Railroad Corporation determines best furthers the purpose of financing the extension of the Alaska Railroad Corporation's rail from Point MacKenzie, Alaska, to Houston, Alaska, and associated costs. The bonds shall be repaid from revenue or other funds available to the Alaska Railroad Corporation. The general credit of the Alaska Railroad Corporation and the state may not be pledged for the repayment of the bonds. (b) The authorization under (a) of this section extends to bonds issued to refund the bonds authorized in this Act. The principal amount of the bonds authorized in this Act may be increased in an issue of refunding bonds in an amount equal to the costs of refunding. (c) This section constitutes the approval required by AS 42.40.285 for the issuance of the bonds described in this section. (d) The bonds authorized to be issued under this section are issued by a public corporation and an instrumentality of the state for an essential public and governmental purpose. (e) In this section, "bonds" means bonds, bond anticipation notes, notes, refunding bonds, or other obligations." 2024-05-08 House Journal Page 2769 Renumber the following bill section accordingly. Representative McCabe moved and asked unanimous consent that Amendment No. 1 be adopted. Representative Fields objected. The question being: "Shall Amendment No. 1 be adopted?" The roll was taken with the following result: CSHB 122(FIN) Second Reading Amendment No. 1 YEAS: 27 NAYS: 13 EXCUSED: 0 ABSENT: 0 Yeas: Allard, Armstrong, Baker, Carpenter, Coulombe, Cronk, Eastman, Edgmon, Foster, C.Johnson, D.Johnson, McCabe, McCormick, McKay, Mina, Prax, Rauscher, Ruffridge, Saddler, Shaw, Stapp, Stutes, Sumner, Tilton, Tomaszewski, Vance, Wright Nays: Carrick, Dibert, Fields, Galvin, Gray, Groh, Hannan, Himschoot, Josephson, Mears, Ortiz, Schrage, Story And so, Amendment No. 1 was adopted and the new title follows: CS FOR HOUSE BILL NO. 122(FIN) am "An Act authorizing the Alaska Railroad Corporation to issue revenue bonds to finance the replacement of the Alaska Railroad Corporation's passenger dock and related terminal facility in Seward, Alaska; authorizing the Alaska Railroad Corporation to issue revenue bonds to finance the completion of the Port MacKenzie Rail Extension in Point MacKenzie, Alaska; and providing for an effective date." Amendment No. 2 was offered by Representative Eastman: Page 2, following line 7: Insert a new bill section to read: "* Sec. 2. The uncodified law of the State of Alaska enacted in sec. 4(b), ch. 30, SLA 2022, is amended to read: (b) The authorization under (a) of this section extends to 2024-05-08 House Journal Page 2770 bonds issued to refund the bonds authorized in this Act. [THE PRINCIPAL AMOUNT OF THE BONDS AUTHORIZED IN THIS ACT MAY BE INCREASED IN AN ISSUE OF REFUNDING BONDS IN AN AMOUNT EQUAL TO THE COSTS OF REFUNDING.]" Renumber the following bill section accordingly. Representative Eastman moved and asked unanimous consent that Amendment No. 2 be adopted. Representative Sumner objected. The question being: "Shall Amendment No. 2 be adopted?" The roll was taken with the following result: CSHB 122(FIN) am Second Reading Amendment No. 2 YEAS: 1 NAYS: 37 EXCUSED: 0 ABSENT: 2 Yeas: Eastman Nays: Armstrong, Baker, Carpenter, Carrick, Coulombe, Cronk, Dibert, Fields, Foster, Galvin, Gray, Groh, Hannan, Himschoot, C.Johnson, D.Johnson, Josephson, McCabe, McCormick, McKay, Mears, Mina, Ortiz, Prax, Rauscher, Ruffridge, Saddler, Schrage, Shaw, Stapp, Story, Stutes, Sumner, Tilton, Tomaszewski, Vance, Wright Absent: Allard, Edgmon Ortiz changed from "YEA" to "NAY" And so, Amendment No. 2 was not adopted. Representative Saddler moved and asked unanimous consent that CSHB 122(FIN) am be considered engrossed, advanced to third reading, and placed on final passage. There was objection. 2024-05-08 House Journal Page 2771 CSHB 122(FIN) am will advance to third reading on tomorrow's calendar.